Simply put, probate is a court’s way of processing the estate of the deceased. This simple legal document enables the estate to be administered. All claims and distribution of the deceased person’s will are filed in probate court. Once processed it is the job of the executor to ensure that the actions of the will are properly executed.
The Administration Process
The administration of an estate is the process of collecting a person’s assets, before maintaining and distributing them amongst the beneficiaries. The role of the executor or administrator is to ensure that the wishes of the deceased are properly executed.
The Probate Process
The probate process begins after the death of a person. An interested person files an application to administer the estate. The fiduciary is then appointed with a role it is to administer the estate, and at times can be required to pay a bond to safeguard and insure the estate.
Creditors are notified and legal notices published. There may be a filed petition to appoint a personal representative to file all relevant documentation. All these processes must be done in accordance with the limitation clause.
Property that Avoids Probate
A property that contractually passes from one party to another upon death does not enter probate. Property held in a revocable or irrevocable trust that was created when the granter’s will was alive also does not enter probate. In most cases the property is distributed privately and without many issues. No court action is required.
What Happens in the Probate and Administrative Process?
After a probate case has been filed and sent to court, an inventory is entered and the deceased property collected. The debts and taxes are paid first. After this, the remaining property is distributed to the beneficiaries.
Probate and administrative processes can be challenged at any time as a whole, or as part of it. The issues that arise during the probate and administrative process may include will contests or paternity issues. These have to be resolved prior to the beneficiaries being awarded any monies or property.